Beztak Tops Out 153-Unit All Seasons Delray Senior Project

Beztak, the Michigan-based developer, topped out its All Seasons Delray senior living project at 15650 Lyons Road in Delray Beach, according to Florida YIMBY and Senior Housing Business. The 153-unit community, built through the affiliate All Seasons of Delray Beach LLC, splits into 92 independent living apartments and 61 assisted living residences on a 7.65-acre site, with ANF Group Inc. serving as construction manager.

Why it matters

Senior housing starts are thin in Palm Beach County, and this one gives the market something rarer than a proposal: a structure that is actually standing, with a real completion date. Beztak bought the land for $6.3 million in 2022 and financed construction with a $75 million loan, a spread that lets any developer weighing senior housing against a conventional apartment deal on a comparable suburban site run the math against a live project instead of a pro forma. Palm Beach County’s Property Appraiser still lists the parcel as vacant commercial land assessed at $6.67 million, a sign the tax roll has not caught up to the framing now standing on it, and a reminder that county assessments lag construction by more than one cycle.

The numbers

The $75 million construction loan against 153 units works out to roughly $490,000 per unit, all-in, a figure that includes the land basis and hard costs rather than a stabilized valuation. The project sits on 7.65 acres, smaller than most suburban multifamily sites in the county, with the unit mix skewed toward independent living, 92 units against 61 assisted living residences. Amenities include a pool, pub, fitness center, pottery and art studios, and an on-site medical center, the kind of program that pushes cost per unit above a standard garden apartment build.

What’s next

Beztak expects delivery in the first quarter of 2028, roughly two years out from the August 2026 topping out. Neither Florida YIMBY nor Senior Housing Business named an architect or a licensed operator for the assisted living component, and AmDev could not independently verify either before publication. The next marker to watch is a certificate of occupancy filing with the City of Delray Beach, which will also be the point at which the Property Appraiser’s assessed value should catch up to the $75 million now built into the site. For more on how South Florida developers are pricing suburban sites against multifamily alternatives, AmDev will keep tracking permit activity across the county.